Why should I franchise my business?

Franchising a business offers many benefits. By joining The Local Guys, you have the opportunity to grow your business to a national scale. Franchise partners will be buying into your business, as opposed to you employing them. This means a higher standard of work, as franchise partners are wanting to grow and take pride in their business.

Can I still run my own business?

Yes! We encourage you to still run your own business in the background. However, this will need to be rebranded to The Local Guys group.

How do I earn money as a Divisional Franchise Partner?

Divisional Franchise Partners can earn money by onboarding, training and supporting Regional and Unit Franchise Partners. For every Franchise Partner you onboard, you will receive a large upfront sum. Additionally, you will also receive ongoing royalties for supporting them. You can also earn an income from your own services and clients.

I don’t know anything about franchising, can you help?

Of course! Through our experiences, we have been on both ends of the spectrum as franchisees ourselves, as well as franchisors. We understand every aspect of franchising and will pass this knowledge onto you.

Do you help find new franchise partners?

Similar to finding clients, we utilise Google Adwords and search engine optimisation to build our site traffic. In addition to these, we also advertise on Seek and other franchising sites to target those who are interested in a career change or to start their own business.

Do you help train and onboard new franchise partners?

One of the main benefits of joining a franchise is to receive ongoing support. Here at The Local Guys, you can contact us anytime during business hours to gain assistance on the onboarding process. We are there with you throughout the process. We also have our online training platform for additional assistance.

How long does the process take?

As you are franchising your existing business under The Local Guys brand, the onboarding process is dependent on the division. However, it is likely it will take between 6-8 weeks.

Do you help with marketing and sales to find clients?

Through Google Adwords and targeted search engine optimisation, we build up the traffic to our website, which ultimately brings in more clients. We also utilise the marketing fund to create targeted advertisements for your territory and surrounding suburbs. In addition to the ongoing leads you will receive from the Support Centre, you will also receive the Local Area Marketing Plan during your marketing training, which has been designed to assist you in finding your own clients.

I have heard it costs $150,000 or more to start a franchise. How much will it cost?

Yes, it can cost a lot of money to franchise your business with your own brand. Typically it will cost between $55,000 – $150,000. However with the local guys it costs only $25,000 ex. gst plus training.

Small Businesses for Sale Melbourne

Looking for a small business for sale in Melbourne? Starting from scratch is not the only way to get started with a business. Starting from zero comes with some distinct disadvantages and difficulties in building a customer base. One of the most effective ways to start a business is to acquire an existing business or to buy a franchise. Every year, more than half a million businesses change hands while a number of others have flourished under new ownership. Buying an existing business is so popular because it lets you skip past some of the pain points of starting a brand. Although the journey of starting a business is long and complicated, it can also be exciting. In this article, we have prepared a checklist to equip you with everything you need to know to avoid buyer’s remorse. We have also covered the pros and cons of buying a business when you’re ready to close the deal and get the keys.

Figure out the type of business you want to run

Narrow down your business interest and list down the specific details you want for your business. Do you want to be a line cook at your own restaurant or manage your own bar? Do you want to provide pest control or line tagging business? Or perhaps, you’ve been a long-time employee of a specific market and now you want to run your own company. Acquiring a small business in Melbourne will give you the leverage to have an additional income stream. Once you’ve decided on the type of business you want, you must learn more about the product. Get familiar with the model, products, services, and customers within the target market.

Search for small businesses for sale in Melbourne

Melbourne is one of the best cities to start a business with. There are plenty of ways to find the right business that fits the criteria you have decided on. For example, you can search through an online business marketplace, newspaper ads, Google ads, and yellow pages. Put your research skills on and go to meetups or industry conferences to ask other business professionals. Another option is to work with business brokers who are legally representing their sellers. A broker can help you understand what kind of business you want and pre-screen businesses. When dealing with a broker, research the businesses they are offering to you. Cut out all the failing companies and keep all negotiations civil and smart.

Understand why the existing business is up for sale

There are plenty of reasons why a business owner might put up their business. If only a single branch is up for sale, you should be worried about the reason because it could be suffering from fundamental yet irreversible problems. Other worrisome reasons can include unpaid loans, bankruptcy, lost brand, and suits. You should know exactly why the business you are considering is no longer working for its current owners. Know the most common reasons for slow business such as the following:

Poorly conceptualized business plan
Competitors are far ahead
Location problems
Brand issue
Difficulties in inventory
Equipment is outdated and they are too difficult to update

On the other hand, you could also buy a franchise. In contrast with buying an existing business, buying a franchise gives you the benefit of an already established business. You get all the support you need in terms of business name, legalities, marketing strategies, and risk mitigation.

Align your goals and budget

If you’re still considering purchasing a small business in Melbourne, make sure that you also align your budget. Don’t get a business that will send you into spiraling debt.

Calculate how much you can afford based on the ideal size, location, sales, staff, and many other factors affecting your business. Figure out how much you can ideally afford as capital for your business. Assess the daily operating cost and your potential income.

Note that when running a business, you will not just be spending money. Look at the time, effort, and commitments that you’re planning to invest in to run the business. Will you be running the business on your own? Will you be hiring managers for your business? Assess the amount of investment you are willing to give depending on the process that is already in front of you.

Do your due diligence

Whether you are buying a franchise or business, exercising due diligence will help you stay away from trouble. Due diligence entails gathering as much information as you can before buying a business, which is a critical step in your journey to becoming a successful business owner.

If possible, get an accountant on your side to review business financials. An attorney will also help represent you and negotiate the legalities of business. This is also very important when signing contracts, making sure that you fully understand the terms and conditions. There could be many papers that you need to deal with such as the following:

Zoning laws
Environmental regulations
Letter of intent
Contracts and leases
Business and financials

Evaluate the price of the business and your potential earning

Buyers and sellers usually follow a pricing model to get a bird’s eye view of the price of the business and the potential income. A valuation service can help you know the real price of the business.

Buying a business is like buying a home in the market. Of course, you would want to choose the best and most profitable business so you can get your ROI. This is why it is very important to research before you make life-changing decisions. One of the keys is to look at the market demands. When demand is high for a particular service, it is less likely for you to struggle in capturing customers. If you want to franchise a business with a proven name in the industry, feel free to contact The Local Guys.

We Have Franchise Opportunities In
Every Australian State!

With franchises across Australia, we have opportunities available to Franchise Partners across the country! If you’re looking for a new and exciting business venture with the support of a national company, you’re in the right place. Learn more about our Franchise Opportunities or get in touch to learn more today!

Small Businesses for Sale Melbourne